Terex announced Aug. 29 the Securities and Exchange Commission is investigating the company in relation to the restatement of its financial results for the years of 2000 through 2003. The company said the restatement pertains primarily to errors it identified in accounting for certain inter-company imbalances as well as the failure to properly eliminate, in consolidation, all inter-company accounts in accordance with generally accepted accounting principles. Terex says it will cooperate with the investigation and intends to provide SEC staff with information.
SEC investigating Terex
September 13, 2005